Bangladesh’s stocks open week on positive note

5:23 pm November 11, 2018| Last Modified: 5:23 pm November 11, 2018

BBN file photo

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended marginally higher on Sunday, extending the gaining streak for the third straight day, as some investors continued their buying appetite on sector-wise stocks.

Market insiders said the market closed higher as newly formed political alliance Jatiya Oikyafront would take part in the 11th national election.

Lucrative price levels coupled with positive support from state-run Investment Corporation of Bangladesh (ICB) also helped the market to close higher, said a leading broker.

The market started on positive note and the core index crossed the 5,300-mark, gaining 44 points in the mid-session. However, rest of the session eroded most of the early gain. Finally, DSE key index ended more than 19 points higher at closing.

DHAKA STOCK EXCHANGE

DSEX, the prime index of the Dhaka Stock Exchange, went up by 19.86 points or 0.38 percent to settle at 5,278.

Two other indices – the DS30 index and the DSE Shariah Index (DSES) – also finished higher.

The DS30 index, comprising blue chips, advanced 9.20 points to finish at 1,868 and the DSE Shariah Index rose 4.95 points to close at 1,215.

Turnover, another important indicator of the market, however, fell to BDT 5.27 billion, which was 11 percent lower than the previous day’s BDT 5.93 billion.

The gainers took a modest lead over the losers as out of 333 issues traded, 149 closed higher, 131 lower and 53 securities unchanged on the premier bourse.

A total number of 138,681 trades were executed in the day’s trading session on the DSE with trading volume of 128.70 million securities.

The market capitalisation of the DSE also rose to BDT 3,819 billion on the day which was BDT 3,812 billion in the previous session.

Khulna Power Company dominated the DSE turnover chart with 3.46 million shares worth BDT 334 million changing hands.

The low-cap companies continued to dominate the gainers chart with Fine Foods was the day’s best performer, posting a gain of 9.9.85 percent while Intraco Refueling Station was the worst loser, losing 7.98 percent.